Silicon Valley inventor Bill Gray says his new Velkess flywheel will store energy at a price of $1,333 per kilowatt, as price competitive as pumped hydro and compressed air. With an 80 percent efficiency, the Velkess can charge fully within five hours, and store 15 kilowatts of power, enough for one day in the average household.
Gray managed to cut costs by using cheaper fiberglass rather than steel or carbon fiber. Compared to Beacon’s flywheel, the Velkess can store electricity at only $300,000 per megawatt-hour, only one-tenth of Beacon’s costs.
The Velkess’ smart design also allows for safety within the house, so that the device doesn’t heat up excessively or break down completely. The Velkess can also be scaled for large industries or businesses.
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